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Page 1: 2010 Public Accountability Statement - Genworth Canada · MI Canada Inc., through its subsidiary, Genworth Financial Mortgage Insurance Company Canada, has been the leading Canadian

2010 Public Accountability Statement

Page 2: 2010 Public Accountability Statement - Genworth Canada · MI Canada Inc., through its subsidiary, Genworth Financial Mortgage Insurance Company Canada, has been the leading Canadian

Letter From The Chairman. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3Who We Are . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4What We Do . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5Putting Our Values To Work . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6Raising the Bar on Financial Literacy . . . . . . . . . . . . . . . . . . . . . . 8Launch of Homeownership Week . . . . . . . . . . . . . . . . . . . . . . . . 9Making a Difference . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10Facilitating Affordable Homeownership . . . . . . . . . . . . . . . . . . . 13The Meaning of Home. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14Volunteers Speak Volumes . . . . . . . . . . . . . . . . . . . . . . . . . . . 15Habitat for Humanity – Building on the Partnership . . . . . . . . . . . 17Employer Of Choice . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18Taking Our Commitment to the Hill . . . . . . . . . . . . . . . . . . . . . . 21From Sea to Sea to Sea . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22Growing Communities Through Good Business . . . . . . . . . . . . . 23

Contents

Page 3: 2010 Public Accountability Statement - Genworth Canada · MI Canada Inc., through its subsidiary, Genworth Financial Mortgage Insurance Company Canada, has been the leading Canadian

Genworth MI Canada Inc. had another solid year in 2010. We started the year with a challenging housing market and some economic uncertainty thatremained from the financial upheaval of 2009, but the economic environmentimproved as the year progressed. Everyone at Genworth MI Canada Inc.worked hard to achieve our financial and social objectives.

Our focus continues to be that we strive to be the leader in the Canadianmortgage insurance market by promoting responsible lending practices andinnovative solutions.

We know that leadership is not simply based on a balance sheet. It is alsoreflected in what a company does and gives back to its customers andcommunities. In 2010, once again our staff met and exceeded ourexpectations.

One example of the commitment of our staff to our customers is ourHomeowner Assistance Program. This program is designed to help familiesfacing temporary financial challenges with tailored solutions that work foreveryone. This past year, we were able to help 5,100 families stay wherethey belong – in their homes.

Another example of the fine work of our team is that in 2010, volunteer hourswere higher than they have ever been. Contributions to communities acrossCanada ranged from: raising money for breast cancer research to helpingbuild a home for deserving people. Our staff helped raise thousands of dollarsfor these and many other worthwhile endeavours.

Heart, integrity and excellence are the guiding principles that define who weare and how we work. Our decisions are grounded in these values, and theyguide our relationships with customers, distributors, investors, communitiesand one another. Underlying our performance is our unyielding commitmentto integrity, as governed by our Code of Ethics.

As 2011 continues to unfold, we will maintain our commitment to deliver thebest customer service while at the same time serving our communities. Wehave proven in the past that we are there when Canadians need us and thisis a tradition we intend to keep.

Sincerely,

Brian Hurley

Chairman and Chief Executive Officer

Letter From The Chairman

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Page 4: 2010 Public Accountability Statement - Genworth Canada · MI Canada Inc., through its subsidiary, Genworth Financial Mortgage Insurance Company Canada, has been the leading Canadian

Who We AreOn July 7th, 2009, Genworth MI Canada Inc. completed its initial publicoffering and began trading on the TSX under the symbol “MIC”. GenworthMI Canada Inc., through its subsidiary, Genworth Financial MortgageInsurance Company Canada, has been the leading Canadian privateresidential mortgage insurer since 1995. Known as Genworth FinancialCanada, “The Homeownership Company,” we provide default mortgageinsurance to Canadian residential mortgage lenders that enables low downpayment borrowers to own a home more affordably and stay in their homesduring difficult financial times. Genworth Financial Canada combinestechnological and service excellence with risk management expertise todeliver innovation to the mortgage marketplace. As of December 31, 2010,Genworth Financial Canada had $5.4 billion in total assets and $2.6 billion inshareholders’ equity. Based in Oakville, Ontario, the Company employsapproximately 265 people across Canada.

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Page 5: 2010 Public Accountability Statement - Genworth Canada · MI Canada Inc., through its subsidiary, Genworth Financial Mortgage Insurance Company Canada, has been the leading Canadian

What We DoMortgage default insurance helps individuals purchase homes with less than 20 percent down payment while being able to borrow at the lowest possible interest rate. It protects lenders against borrower default, and helps make homeownership possible for millions of Canadians. Genworth also helps Canadians stay in their homes whentemporary financial difficulties put their mortgage at risk. Genworth works hand-in-handwith homeowners and lenders to find alternative solutions to keep people in theirhomes during times of financial hardship.

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Page 6: 2010 Public Accountability Statement - Genworth Canada · MI Canada Inc., through its subsidiary, Genworth Financial Mortgage Insurance Company Canada, has been the leading Canadian

Our values are thefoundation of ourcompany. They definewho we are and how wework. Our decisions aregrounded in thesevalues; they guide ourrelationships withcustomers, investors,communities and eachother. We live thesevalues every day.

HeartWe embrace a spirit of caring and respect for our customers, employees,communities and the environment; we are there when people need us most.We seek out, respect and value different perspectives and experiences. Theresult is that we have a positive impact upon our communities.

We’re there when people need us most.

We seek out, respect, and value different perspectives and experiences.

We positively impact our communities around the world.

IntegrityWe demonstrate fairness, honesty, and accountability.

We do what we say.

We communicate with transparency.

Excellence We prioritize to stay focused on the right things.

We take initiative to be a part of the solution.

We continually seek to teach and learn.

We believe in the power of a promise.

Every day we make promises to help people secure their financial lives,families and futures—but these promises are just words, unless we put ourwords in action. We share the responsibility to put our promises in action bydemonstrating Heart, acting with Integrity and striving for Excellence in everydecision.

These three values—Heart, Integrity, and Excellence—embody who we areand how we work. They guide our decisions and define our relationships.And they are fundamental to our success in keeping our promises to ourcustomers, our distributors, and to each other.

We live these values every day.

Putting Our Values To Work

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Page 7: 2010 Public Accountability Statement - Genworth Canada · MI Canada Inc., through its subsidiary, Genworth Financial Mortgage Insurance Company Canada, has been the leading Canadian

Homeowner Assistance ProgramWhen times get tough or unexpected eventsarise, we want to help people stay in their homes.That’s why as part of our Homeowner AssistanceProgram, qualified homeowners who areexperiencing temporary financial difficulties that might put their mortgage at risk, can work inpartnership with us and their lender to establishalternative arrangements – at no extra cost.Whether it is a serious illness, marital separation,or loss of employment, there are a number ofoptions to help you keep your home.

Each situation is assessed individually; someoptions include increasing amortization periods,partial or shared payment plans or deferredpayments. No matter what the solution,Genworth’s Homeowner Assistance Program is a proven method to successfully keep peoplein their homes. In 2010, we helped over 5,100families through our Homeowner AssistanceProgram, representing an increase of 13% overthe previous year. Through this program weremain committed to preserving the dream of homeownership.

Educating Homeowners One Brick at aTimeAt Genworth, we firmly believe that the more you know, the better decision you can make,especially when it comes to homeownership.

We are constantly seeking out ways to elevatethe understanding of the home buying processfor Canadians. It is the most important, and formany, the largest investment they will make intheir life. It is with this in mind, that Genworthremains committed to providing the tools andresources to ensure people make the rightdecisions to achieve their homeownership goals.

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Page 8: 2010 Public Accountability Statement - Genworth Canada · MI Canada Inc., through its subsidiary, Genworth Financial Mortgage Insurance Company Canada, has been the leading Canadian

Raising the Bar on Financial LiteracyIn everything we do, we strive to elevate the financial literacy level ofCanadians. With a relationship that began in 2009, Genworth continued to expand its financial pledge to helping the Canadian Association of CreditCounselling Services (“CACCS”) with their work to assist Canadians to get into better financial shape.

That relationship grew in 2010, as Genworth sponsored a financial fitnesssurvey for the CACCS that revealed homeowners were in better financialshape than the rest of Canadians. For example, two-thirds of homeownerspay off their credit card balances each month, indicating an understanding of how credit and interest rates work.

In 2011, Genworth will once again sponsor a survey to determine the level of financial understanding of Canadians. The survey is part of a financialcommitment of $150,000 that Genworth has pledged to use with CACCS to help provide financial literacy resources and education nationally.

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Page 9: 2010 Public Accountability Statement - Genworth Canada · MI Canada Inc., through its subsidiary, Genworth Financial Mortgage Insurance Company Canada, has been the leading Canadian

Launch of Homeownership WeekRecognizing that getting your financial house in order is the first step towardshomeownership, Genworth launched Homeownership Education Week inApril 2010. Our priority was to provide first-time homebuyers with theinformation they need to make smart homeownership choices. Inconjunction with our lender and broker customers, we helped educate the homebuyer in their homeownership journey.

We have done this through the launch of our dedicated homebuyer websitewww.homeownership.ca which provides homebuyers with common-senseadvice and information. The site is a one-stop resource to help homebuyersthrough every step of their homeownership journey. Whether you’re lookingfor budgeting tips, expert advice, mortgage calculators or educational videos,it breaks down the homebuying process in easy to understand terms. Fornew immigrants to Canada, the site includes a specially designed section that explains the homebuying process in seven languages.

The success and positive response from the 2010 education week was so great that we held a similar week in April 2011.

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Page 10: 2010 Public Accountability Statement - Genworth Canada · MI Canada Inc., through its subsidiary, Genworth Financial Mortgage Insurance Company Canada, has been the leading Canadian

Making a DifferenceIn addition to numerous in-kind donations,Genworth’s total cash-based contributions tocommunity causes in 2010 exceeded $685,000— a more than 15 per cent increase from 2009.

At Genworth, we strive to give back to thecommunity in order to make a difference. Ourphilosophy is that giving time is as important asgiving money and that personal commitment isjust as relevant as corporate donations. We areproud of our employee efforts this past year.Below is a summary of their community givingspirit in action:

In our communities – the United Way Once again, Genworth employees pulled out all the stops to support the United Way, whosemission is to improve lives by mobilizing thecaring power of communities.

A major goal of the Genworth United Way drive for the year was to increase employeeparticipation across the country. The result was a record-breaking campaign with employeeinvolvement increasing in 2010 by 60 per centand an increase in contributions of 30 per cent.Our United Way efforts featured fun and uniquefundraising ideas so that every employee had theopportunity to participate. Events such as aHawaiian Luau served by Genworth executives,an online silent auction and various contestswere part of the campaign.

The Company matched employee donations tothe United Way dollar for dollar, and our totalcontribution reached $100,000.

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Lamar Haddad2010 Genworth Employee Campaign United Way Chairperson.

Page 11: 2010 Public Accountability Statement - Genworth Canada · MI Canada Inc., through its subsidiary, Genworth Financial Mortgage Insurance Company Canada, has been the leading Canadian

Genworth Shows Great Spirit in the Fight against Breast Cancer

In July of 2010, Genworth set out to create a team to participate in the CIBC Run for the Cure,which took place on Sunday October 3. Weaccomplished that goal with 40 employees, family members, friends – and even a few pets –participating in six cities across Canada includingBurlington, Halifax, Mississauga, Montreal, RedDeer and St. Catharines.

Genworth employees were motivated to getinvolved in the Run for the Cure to support ourfriend and colleague Sherri Leclair. The head officeteam chose the Mississauga location to support theplace where Sherri lives and where her treatmenttook place (Credit Valley Hospital).

Genworth supported employee fundraising effortsand the final total was a donation of $31,610.

At the Mississauga run location, Genworth received two awards: SherriLeclair won the Determination Award for most funds raised by a singleperson and Genworth won the Corporate Spirit Award for the most fundsraised by a team. It was an inspiring day for everyone.

To Support a Cure - Juvenile Diabetes Research FoundationGenworth is proud of its continued participation in the Juvenile DiabetesResearch Foundation (“JDRF”) Ride for Diabetes Research. In 2010, wejoined rides in several cities throughout Quebec and Ontario. Diabetes is aglobal battle with human, social and economic impact. Once again, Genworthemployees answered the call by supporting the Ride through organizationalefforts, financial contributions, and energetic riding. Our Quebec team alsocontributed to the JDRF by designating it as the recipient of the funds raisedat one of its charity golf tournaments.

Willies Kim partipating in the JDRF ride.

Genworth Mississauga Run for the Cure team.

Genworth PrairiesRun for the Cure team.

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Page 12: 2010 Public Accountability Statement - Genworth Canada · MI Canada Inc., through its subsidiary, Genworth Financial Mortgage Insurance Company Canada, has been the leading Canadian

Contributing to Global Disaster ReliefIn response to global-scale natural disasters that occurred in 2010,Genworth matched employee donations for humanitarian relief effortsfollowing the earthquake in Haiti and floods in Pakistan for totalcontributions of $30,000 to Doctors without Borders, the Canadian Red Cross and The Humanitarian Coalition.

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Page 13: 2010 Public Accountability Statement - Genworth Canada · MI Canada Inc., through its subsidiary, Genworth Financial Mortgage Insurance Company Canada, has been the leading Canadian

Genworth is continuously seeking out ways to makehomeownership more affordable for Canadians. As aresult, we provide mortgage insurance support forinitiatives sponsored by government and non-profitentities, developers and lenders. In 2010, Genworthstepped up its involvement by proactively working within the industry to develop projects and programsthat would demonstratively enhance access tohomeownership. Not only did Genworth adapt itsunderwriting requirements to meet the demands ofspecific programs, but it reduced its mortgage insurancepremium rate in support of these programs to bringsavings directly to the new homebuyers.

We are proud to work with municipalities on programssuch as the one in Grande Prairie, Alberta, where themunicipality offered down-payment assistance for up to 78 first time homebuyers. Genworth agreed torecognize the grant as an approved source of down-payment and did not include a repayment factor whencalculating debt ratios.

We also strongly believe that private sector businesses have a role to play in promoting affordablehomeownership. In Saskatchewan, we had anopportunity to demonstrate our commitment to thiscause by working with private sector developers. In one example, Genworth agreed to underwrite theinsurance for a program developed by a local developerand a Credit Union. The program offered a grant towardsthe down-payment for purchasers within specifiedincome targets who have completed an approvedhomebuyer course.

Facilitating Affordable Homeownership

Saskatoon Homeownership WelcomeHome program celebration.

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Page 14: 2010 Public Accountability Statement - Genworth Canada · MI Canada Inc., through its subsidiary, Genworth Financial Mortgage Insurance Company Canada, has been the leading Canadian

The Meaning of HomeNow in its fourth year, the Meaning of Home writing contest was created to raise awareness among students on the importance of having a home. By putting pen to paper, students have the opportunity to express theirfeelings and make a difference in their community.

The contest called on grade 4, 5 and 6 students from across Canada to express what ‘home’ means to them through a short story, poem or essay. Teachers were encouraged to download education modules fromGenworth’s interactive website to help bring the notion of community intothe classroom.

The 2010 Meaning of Homecontest prompted more than 2,400submissions from students acrossthe country. The grand prize winnerreceived a new laptop computersystem, and more importantly, theability to direct the ultimate prize: a $60,000 donation provided byGenworth to Habitat for Humanityto build a home in the community of their choice.

The 2010 Meaning of Home GrandPrize winner was Karson Simpson,who chose Habitat for HumanityWellington (Guelph, ON) to receivethe $60,000 donation. She usedpoetic language to compare ahomeless teen with one who has acomfortable home. Genworth also

donated $5,000 to the Habitat affiliates chosen by each of the 5 runners-upand $500 to Habitat affiliates for 18 other semi-finalists. This brought the totalMeaning of Home grants to $357,000 given to 29 different affiliates over thepast 4 years.

Perhaps the most important result of the contest is the effect on the kids who participate. To quote the mother of one finalist from Edmonton, Alberta: “I really think something like this can be life-changing for a youngperson, when they have an opportunity to really make a difference in the lifeof someone less fortunate. As a mom who is seeing a change in her childbecause of this, I can't thank you enough.”

For further information on the Meaning of Home contest or to see the fulltext of the winning entries, visit www.meaningofhome.ca.

Sixth grade student Margaret is picturedin her classroom beside the poem thatearned her a runner up position in theMeaning of Home writing contest.

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Page 15: 2010 Public Accountability Statement - Genworth Canada · MI Canada Inc., through its subsidiary, Genworth Financial Mortgage Insurance Company Canada, has been the leading Canadian

In 2010, Genworth employees at all levels volunteered aremarkable 4,030 company-sponsored and personal hours in support of communities andcauses across Canada.

Genworth employees generouslydonate time to a variety of causesand community initiatives. TheGenworth Volunteers SpeakVolumes Program was establishedin 2006 to strengthen ourcommitment to personalphilanthropy, increase employees’“giving power” and recognize thecharitable interests of ouremployees.

The Genworth Volunteers SpeakVolumes Program recognizesemployees who generously donateat least four volunteer hours perquarter. Each quarter, Genworthholds a draw using the names ofeligible employees, and makes a$500 donation to the charity of thewinner’s choice. The Charities thatbenefited from this program in 2010 are The Heart and StrokeFoundation, Habitat for HumanityHalton, Communauté sépharadeVille St-Laurent and Médecins SansFrontières.

Volunteers Speak Volumes

Curling for Big Brothers Big Sisters in Oakville.

Genworth team members help promote a heathyecosystem through an annual garlic mustard pull.

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Page 16: 2010 Public Accountability Statement - Genworth Canada · MI Canada Inc., through its subsidiary, Genworth Financial Mortgage Insurance Company Canada, has been the leading Canadian

Genworth believes in recognizingthe time, energy and professionaltalents that its employees contributeto making their local community abetter place.

That is why, for the fifth consecutiveyear, Genworth conferred aVolunteer of the Year Award on adeserving employee. In 2010, thatrecognition went to Hossam Khedr,an IT Manager in our head office inOakville, Ontario. Hossam wasnominated by his peers, andselected as the winner by acommittee. As the 2010 winner,Hossam was given $2,000 to directto a charity of his choice; Hossamchose the Centre for IndependentLiving in Toronto (“CILT”). CILT is aregistered Canadian charity that isdedicated to promoting theattainment and maintenance ofoptimum independent living ofpersons with disabilities in Toronto.

Hossam is an excellent example of the many dedicated Genworthvolunteers who donate their time to enrich the lives of others. In 2010,Hossam was involved in countlessvolunteer initiatives supporting youth and people with disabilities –two causes that are very importantto him.

“Removing barriers for people withdisabilities so they can participatefully in our communities is veryimportant to me and a big focus of my volunteer efforts,” saysHossam. “One of the biggestbarriers is to shift our attitudestoward people with disabilities fromthat of pity to that of respect.”

Hossam also developed a one-on-one financial coaching program and training manual for Habitat for Humanity, Toronto. Otherorganizations benefiting fromHossam’s community serviceinclude: Federation of MuslimWomen, the Muslim Youth SoccerLeague and the CanadianAssociation of Muslims withDisabilities.

His commitment and desire to makea difference has been felt by manywithin the community. Thank you,Hossam, for truly demonstratingGenworth’s value of Heart.

"Every day we make promises tohelp people secure their financiallives, families and futures. But these promises are just wordsunless we put them into action. We put our promises into action by demonstrating heart, acting withintegrity and striving for excellencein every decision. Hossam trulyembodies the value of heart in all of his charity and communitywork. He positively impacts thecommunities he supports and seeks out, respects and valuesdifferent perspectives and opinions.He embraces a spirit of caring and respect for our customers,employees and communities and is a true inspiration to the Genworthteam." Cecilia Carbonelli, VPInformation Technology.

Hossam Khedr: 2010 Volunteer of the Year

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Page 17: 2010 Public Accountability Statement - Genworth Canada · MI Canada Inc., through its subsidiary, Genworth Financial Mortgage Insurance Company Canada, has been the leading Canadian

75 employees contributed about 500 volunteer hours onthe construction site. As the Homeownership Company,we are proud to support Habitat’s efforts to break thecycle of poverty by building homes for those who needthem the most.

“This initiative will become a life changing moment formany of the Canadian families that are in great need of a decent home,” said Stewart Hardacre, President andCOO of Habitat for Humanity Canada. “Genworth hasalways been an innovative and forward thinkingsupporter, continually developing its assistance forHabitat for Humanity and “The Path to Home” is nodifferent – and through it, they will help us make apositive impact on dozens of families in need across the country.”

Each year, Genworth employees from across the countryvolunteer their time by participating in various Habitat forHumanity build projects across Canada. By picking up ahammer and setting aside their regular jobs for a day,they are helping change lives. In 2010, Genworthemployees participated in 12 different constructionprojects from Prince Edward Island to Vancouver, andserved on Habitat boards and committees in Sherbrooke,Montreal, Ottawa, Toronto, Oakville and Windsor.

Genworth also worked in partnership with Habitat forHumanity for the Meaning of Home writing contest –one of our most successful and rewarding communityinitiatives ever.

Habitat for Humanity – Building on the Partnership

At Genworth, we take pride in helping those who needus most. A spirit of caring and respect is one of our corevalues. That is why we are so pleased about ourcontinuing partnership with Habitat for Humanity Canada- a national, non-profit organization working for a worldwhere everyone has a safe and decent place to live.

The mission of Habitat for Humanity Canada is tomobilize volunteers and community partners to buildaffordable housing and to promote homeownership as a means of breaking the cycle of poverty.

In 2010, Genworth and Habitat for Humanity Canadaannounced a new three-year agreement in whichGenworth committed one million dollars to a programcalled “The Path to Home.”

The Path to Home supports home building grants,access to educational material, resources and employeevolunteer commitments planned throughout each yearof the project. This new effort will expand Genworth’swork with Habitat for Humanity in helping Canadianfamilies become homeowners. The program had greatsuccess in its first year and the city of Windsor, Ontario,was the first stop on “The Path to Home”. Genworthdonated a home to Habitat for Humanity Windsor-Essex,which was completely renovated in 2010 to provide anew home for a family of 8. Also a first in 2010 was aHabitat for Humanity build in our “home town” ofOakville, Ontario. Genworth was the Platinum sponsor in this build and in addition to a grant of $100,000,

Genworth crew at a Toronto build.

Genworth crew at an Oakville build.

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Page 18: 2010 Public Accountability Statement - Genworth Canada · MI Canada Inc., through its subsidiary, Genworth Financial Mortgage Insurance Company Canada, has been the leading Canadian

Accountable LeadershipAt Genworth, accountability begins at the top. We understand the essential role our leaders play in engaging employees and creating a winningenvironment. To foster accountability, we offer the following programs:

� Leadership Training and Development: We provide on-going leadership development courses that focuson: communicating vision and direction, setting goals,giving performance feedback, coaching, supportingemployee development, reward and recognition anddemonstrating respect. This training enhances ourmanagers’ leadership skills to the ultimate benefit ofthe organization.

� Manager Assimilation: At Genworth we havesuccessfully used a New Manager Assimilationprocess to integrate recently appointed managers with his or her direct reports. This facilitated half-daysession can compress months of getting to know anew manager to a few short hours. This results inteams quickly becoming productive after amanagement change.

� Performance Management: Genworth’s annual reviewprocess is an opportunity for employees to inventorytheir core competencies and get useful feedback frommanagers.

� Goal Setting: An annual process to ensure our leaders understand and develop their own individualobjectives that link to the functional, business andorganizational goals of Genworth.

Employer Of Choice

Supporting DevelopmentWe believe in providing a positive, inclusive environmentfor our employees which promotes growth and inspiresperformance. This is why Genworth offers competitivesalaries, benefits, programs and resources that reinforceour commitment to continuous learning and professionaldevelopment. Some of the programs and resourcesinclude:

� The Genworth Development Centre which serves asthe learning and organizational effectiveness centre for all Genworth employees, providing careerdevelopment assistance as well as self-guidedlearning, training, mentoring and resources.

� Competency models which help define the skills andknowledge employees need to succeed. The modelsassist employees in planning career paths, assessingcurrent competencies, and preparing for future jobgrowth.

� E-learning courses which allow employees to takeonline courses in a quiet and comfortable setting.

� A comprehensive tuition reimbursement programwhich reimburses employees for eligible costs ofcompleting courses in a post secondary degreeprogram that prepares them for advancement in their field at Genworth.

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Page 19: 2010 Public Accountability Statement - Genworth Canada · MI Canada Inc., through its subsidiary, Genworth Financial Mortgage Insurance Company Canada, has been the leading Canadian

Supporting Well-BeingWe believe a healthy, respectful workplace thatvalues work-life balance is an important part ofbeing accountable to our employees. In supportof a balanced life, Genworth offers the followingprograms:

� A comprehensive benefits package thatincludes medical and dental care, life andaccident insurance, disability coverage andaccess to an employee assistance program.As well, employees are offered a pensionplan and a stock savings plan that worktogether to support their financial goals.

� Fitness reimbursement that in most casessees Genworth contributes 50 per cent of the cost of an employee’s fitness program.

� An employee assistance program thatprovides confidential support, advice andresources that help employees deal withpersonal issues.

� A commitment to work/life balance thatallows employees to work remotely, jobshare, or opt for part-time employment.

In 2010, Genworth employed 265 full time staffand 9 part time staff across Canada.

Regional breakdown: Full Time Part Time

Alberta 9

British Columbia 7

Manitoba 1

New Brunswick 1

Newfoundland and Labrador 1

Nova Scotia 3

Ontario 207 8

Quebec 35 1

Saskatchewan 1

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Page 20: 2010 Public Accountability Statement - Genworth Canada · MI Canada Inc., through its subsidiary, Genworth Financial Mortgage Insurance Company Canada, has been the leading Canadian

Working With Industry And Government To Make A DifferenceAt Genworth we recognize that as an industry leader in providing mortgageinsurance to Canadians, it is important to share our expertise and knowledge.We work actively with various participants in the industry to provide themwith support and resources. In doing so, we continue to learn, adapt andmost importantly, innovate. Genworth is proud to work with organizationssuch as the Conference Board of Canada, the Canadian HomebuildersAssociation, the Canadian Association of Accredited Mortgage Professionals,and the Canadian Real Estate Association.

It is industry associations such as these that provide professionaldevelopment opportunities and keep mortgage professionals informed aboutimportant industry changes, and help professionals pass this knowledgealong to homebuyers.

Team Genworth pictured at the Genworth booth at the CAAMP Expo in Montreal.

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Page 21: 2010 Public Accountability Statement - Genworth Canada · MI Canada Inc., through its subsidiary, Genworth Financial Mortgage Insurance Company Canada, has been the leading Canadian

Taking Our Commitment to the HillGenworth understands that the private sector has animportant role to play in helping governments establishpublic policy. In 2010, the federal government madeadjustments to amortization rules and consulted withGenworth for our views.

We work with government departments and agenciesby providing them with market insight and data whichassists them in the development of sound public policy.

However, we do more than contribute to the publicpolicy debate in Canada; we also recognize theimportance of continuing to sponsor various initiativesthat take place on Parliament Hill that provide youngCanadians with invaluable opportunities and exposure tohow Parliament works. With that in mind, we were again

proud sponsors in 2010 of the Parliamentary InternshipProgramme which gives 10 talented university graduatesthe opportunity to learn about government first-hand byworking for Members of Parliament from all parties.

As well, we committed to again support the Forum forYoung Canadians which is a bilingual non-partisaneducational experience for high school and CEGEP(Quebec) students. Each year, the “Forum experience”brings about 600 students from across the country toOttawa for an intensive academic adventure thatimmerses them in the exciting world of national politics.

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Page 22: 2010 Public Accountability Statement - Genworth Canada · MI Canada Inc., through its subsidiary, Genworth Financial Mortgage Insurance Company Canada, has been the leading Canadian

Helping Canadians buy homes from coast to coast to coastWhenever Canadians are ready for the responsibility ofhomeownership – no matter where they live or want to live – Genworth Financial Canada is there to help.

We work with more than 250 financial institutions in every part of the country. Since 1995, we’ve madehomeownership possible for more than 1.2 million families.

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From British Columbia to Newfoundland and Labrador– and everywhere in between – Genworth providesmortgage default insurance needed to qualify fortoday’s affordable, low down-payment mortgages.

Page 23: 2010 Public Accountability Statement - Genworth Canada · MI Canada Inc., through its subsidiary, Genworth Financial Mortgage Insurance Company Canada, has been the leading Canadian

At Genworth, accountability andtransparency are paramount.

Part of being a leader in thecommunity means contributing toits strength and vitality financially.

Genworth continues to deliverstrong financial results. Beyond thecharitable contributions outlinedearlier in this report, Genworth paidthe following amounts to variouslevels of government in Canada in 2010.

NEWFOUNDLAND

PRINCE EDWARD ISLAND

NOVA SCOTIA

NEW BRUNSWICK

MANITOBA

SASKATCHEWAN

BRITISH COLUMBIA

YUKON

NORTHWEST TERRITORIES

NUNAVUT

QUÉBEC

ONTARIO

ALBERTA

FEDERAL

TOTAL

200,273

22,618

411,802

9,618

85,488

426,182

1,168,913

2,462

2,026

-

2,210,233

5,525,000

2,149,418

-

12,214,033

1,816,501

279,388

3,155,775

1,215,807

1,752,437

3,751,783

13,988,957

78,926

31,387

1,207

23,863,273

47,888,662

18,045,803

154,244,859

270,114,765

PREMIUM TAX

1,616,228

256,770

2,743,973

1,206,189

1,666,949

3,325,601

12,820,044

76,464

29,361

1,207

21,653,040

42,363,662

15,896,385

154,244,859

257,900,732

INCOME TAXPROVINCE TOTAL

Growing Communities Through Good Business

Tax Payments (year ended December 31, 2010)

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